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See all articles by Alfred Duncan Alfred Duncan. Lecture courses. Alfred Duncan.
When individuals have private information about their own luck and income, the sharing of idiosyncratic risks is hampered by moral hazard. Large gaps remain in our knowledge of the interactions between the financial sector and macroeconomic outcomes. Taught at the University of Kent in Spring 2017. a.j.m.duncan@kent.ac.uk. 14(3), September. There, details are also given on how to add or correct references and citations.Curated articles & papers on various economics topicsPretend you are at the helm of an economics departmentWho was a student of whom, using RePEcPublic profiles for Economics researchersSubscribe to new additions to RePEcBlog aggregator for economics researchHave your research listed on RePEcData, research, apps & more from the St. Louis FedCases of plagiarism in EconomicsQuestions about IDEAS and RePEcUpload your paper to be listed on RePEc and IDEASHave your institution's/publisher's output listed on RePEcFollow serials, authors, keywords & more In short, when audit signals are weakly correlated with true incomes, standard debt contracts emerge as optimal; if audit signals are highly correlated with true incomes, optimal contracts resemble equity. They also have helped us to understand better the consequences of financial instability for the macroeconomy. Alfred Duncan, 2016. "Financial Frictions in Macroeconomic Models," Studies in Economics 1719, School of Economics, University of Kent. by Alfred Duncan A (very) short introduction to credit cycles and macroprudential policy for undergraduate economics students.
Alfred Duncan & Charles Nolan, 2017.
This friction also affects the optimal sharing of business cycle risks. Oxford Research Encyclopedias . "Disputes, debt and equity," Theoretical Economics, Econometric Society, vol. These modeling developments have helped us to understand the role of the financial sector in the transmission of policy and external shocks into macroeconomic dynamics. Optimal standard debt contracts under imperfect audits are shown to reproduce key empirical facts of U.S. firm borrowing.business creation decreased 32% since the lockdown.An advanced undergraduate introduction to financial economics.This amounts to over 27,000 fewer businesses than if the 2019 trend had continued.Relative to the same period last year and up until 30 April,Relative to the same period last year and up until 31 May,The module is taught mostly by distance.business creation decreased 25% since the lockdown.Data driven module with a focus on UK business cycles.Oxford research encyclopedia of economics and finance (2018)This amounts to over 38,000 fewer businesses than if the 2019 trend had continued.In recent decades, macroeconomic researchers have looked to incorporate financial intermediaries explicitly into business-cycle models. See the complete profile on LinkedIn and discover Alfred’s connections and jobs at similar companies. 14(3), September.Example plot taken from teaching materials.Costly state verification, risk averse entrepreneurs, imperfect audits, full commitment audit strategies.We show how the prospect of disputes over firms’ revenue reports promotes debt financing over equity. This is demonstrated in a costly state verification model with a risk-averse entrepreneur. Specifically, the effects of financial stability and macroprudential policies are not well understood.Duncan, Alfred & Nolan, Charles, 2018. Alfred has 9 jobs listed on their profile. Initiative for open bibliographies in EconomicsVarious rankings of research in Economics & related fieldsRePEc working paper series dedicated to the job marketTo make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item.
This is demonstrated in a costly state verification model with a risk-averse entrepreneur. "Reform of the UK Financial Policy Committee", Scottish Journal of Political Economy, DOI:10.1111/sjpe.12228Regionally, Wales, Scotland, and Northern Ireland suffer the largest contraction and Greater London the smallest.The construction and retail trade sectors suffer the largest declines in business creation.Includes an introduction to the Julia programming language for applications in finance.Core PhD macroeconomics module.Low quality audits encourage debt financing over equity.